Short term rental company, Airbnb have suffered a tremendous lost in profit due to the global epidemic, many Airbnb hosts have been on a lost and some even had to let go of their property as the burden was getting heavier.
Airbnb units left unoccupied, with the restrictions from the Malaysian government, it’s even harder to be able to host any guest during this crucial period.
Airbnb was once the go to app for short term rental of people in big big groups, big families will often choose to live in an Airbnb unit than a hotel because it’s a cheaper alternative. Some hosts even had foreigners book their place for short visits
Since 2020, Airbnb had many bookings cancelled and refunded as the pandemic continues to worsen all around the world, many operators have also delisted their unit as a host, those who are struggling financially due to the pandemic have already sold their units.
Experts suggest that the travelling restrictions will only be lifted in 2023, that is when most countries have completed the vaccination program for the people in their respective countries. However, by then, many hotels will have already close down and hopefully Airbnb units are available for travellers who wishes to avoid living in hotels to save cost.
But it’s only 2021 and it’s a couple of year till 2023, it’s uncertain of what will be of the hotels and tourism industry, however, seeing how majority people have been restricted to travel out of the country there is a 70% chance that once the travel ban is lifted, there will be a travel frenzy to visit other countries.
There will be a difference in terms of places where there could be a possibility of shops that closed down due to pandemic and many travel operators have stopped operating at the rate they used to but it’s a slow recovery to a new norm and hopefully everything picks up the pace and bring tourism back to it’s route again.
No matter the pandemic, we sincerely hope that Airbnb operators will be able to host again and earn extra income from this platform.